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Briefing Notes
Regulation
Court of Appeal to reconsider £69m CMA fines on Pfizer and Flynn Pharma over excessive pricing of epilepsy drug phenytoin sodium
If the Court of Appeal reinstates £69m in fines, it hands the CMA a durable legal template for tackling pharmaceutical price gouging.
AI & Law
UK's first regulated AI-only law firm Garfield wins fully contested court case in England, marking a significant proof point for SRA-authorised AI legal practice
An AI firm winning a contested English court case collapses the assumption that human advocacy is irreplaceable in routine civil litigation.
Capital Markets
UK gilt market stays 'on edge' as political vacuum following PM Starmer's announced resignation keeps bond investors in wait-and-see mode
Bond vigilantes returning to the gilt market would raise borrowing costs for every leveraged deal priced off UK risk-free rates.
Disputes
Lloyd's of London launches marine war risk consortium to facilitate Strait of Hormuz shipping cover as insurance market responds to post-ceasefire trading resumption
A Lloyd's war risk consortium for Hormuz transits is the insurance market pricing — and partially transferring — geopolitical risk that legal markets are still struggling to quantify.
International
EasyJet Board Rejects Castlelake's £4.74B Takeover Bid as 'Highly Opportunistic'
A UK Takeover Code clock is now running — Castlelake must bid or walk.
Banking & Finance
Weil Gotshal poaches Sidley Austin's capital solutions partner James Crooks in a transatlantic lateral hire as the practice area becomes a declared strategic priority
Capital solutions mandates — the highest-margin financing work — are migrating from banks to US firms with specialist private credit benches.
M&A
Phoenix Equity Partners makes strategic investment in UK online school Minerva Virtual Academy, with eight advisory firms spanning buy- and sell-side
PE backing for edtech signals recurring-revenue, asset-light targets are commanding premium sponsor attention in 2026.
Energy & Tech
EU auctions 3.199 million carbon permits at €79.04/tonne as European carbon market holds above recent support levels
Carbon at €79/tonne keeps decarbonisation economics compelling and sustains deal flow in renewables project finance.